One in five SMB (Small And Midsize Business)owners has implemented some form of Artificial Intelligence (AI)
People sometimes confuse AI with data analytics or the application of intense mathematics. It’s so much more. AI generally refers to using computers to perform complex tasks typically thought to require human intelligence — for example, image perception, voice recognition, decision-making, and problem-solving.
Several types of technologies fall under the AI umbrella. One is machine learning, which applies statistical techniques to improve machines’ performance of a specific task over time with little or no programming or human intervention. Another is natural language processing, which uses algorithms to analyze unstructured human language in documents, emails, texts, conversations, or otherwise. And a third is robotic process automation, which automates time-consuming repetitive manual tasks that don’t require decision-making.
Here are some examples of how businesses can use AI:-
HR. AI software can significantly expedite the hiring process by soliciting and screening candidates. It can narrow the field and save interviewing time, freeing up HR staff to deal with other issues that require human attention. AI also might reduce the risk of discrimination claims because human subjectivity plays less of a role in the process.
Communications. Chatbots and other tools make it easier to maintain efficient and effective communications with customers and prospects. Specifically, these tools can respond to frequently asked customer service questions, allowing front-facing employees to focus on more targeted or complex issues.
Growing companies can also use AI tools to automate communications with vendors and employees. Doing so ensures the timely delivery of information and minimizes the chance of costly or embarrassing human errors.
Cybersecurity. Every company, no matter how big or small, faces the threat of hackers and ransomware schemes — and the risk has grown only more intense in recent months.
In fact, given the sheer number of cyberthreats out there, and the virtually infinite ways that cybercriminals can vary their attacks, AI is fast becoming an essential defensive tool. For example, through machine learning, AI can devise “classification algorithms” to detect spam and malware.
